Investment, Jobs And Bonuses: Who Gets the Better Deal, GM Or The UAW?

General Motors Co. will invest $2.5 billion and save or add about 6,400 jobs in the U.S. under the proposed four-year contract covering its United Auto Workers employees.

If ratified, the 48,500 UAW members who work for GM will be guaranteed $12,500 in assorted bonuses over the next four years, UAW President Bob King said Tuesday in a media briefing at the GM-UAW Center for Human Resources Center off Jefferson Avenue.

Earlier in the day, King and Joe Ashton, the union's vice president for GM, briefed local union presidents on the tentative contract. Local leaders then voted to recommend it for ratification to their membership. They'll now return to their respective plants to brief the rank-and-file, who will vote on the contract in the next week.

"One of our main objectives is jobs, and I think we met that objective," said Ashton, adding that 11,400 jobs have been recovered over the last two years, and there will be 6,500 more over the next two years.

Steve - 9/20/2011 5:59:23 PM

+1 Boost

They *both* get a raw deal. The "New GM" is stuck with the UAW, and the UAW is saddled with GM. A match made in heaven. Hopefully, then next time they go Chapter 11 the feds leave the tax-payers' money in the tax-payers' pockets, and let the country hobble into the 21st century.

Joe_Limon - 9/20/2011 6:35:36 PM

-2 Boost

haha don't kid yourself, only 25% of your countries budget is generated though tax payers. If anything lending from China is what saved GM/Chrysler.

valhallakey - 9/21/2011 12:37:57 AM

+1 Boost

Ha aint that the truth.... time to mint that multi-trillion dollar coin and give it to the Chinese... call it good :). Of course our real dollars might be like that coin... at least then we will be competitive... very poor but competitive...